Don’t Let Your Startup Never Startup

Starting a Startup

You have an idea, you have a motive, all you need now is a business that just won’t fail. Afterall, you don’t want to fall into the statistic of nearly half of all startups never actually starting up. For one reason or another, mainly due to financing and poor planning, startups never actually get on the ground. If finances weren’t the best before this, you best believe they will take a massive hit if the business doesn’t work out. But, considering the business world is growing at a rapid rate, now is the time to try and get your foot in the door whilst the market will still allow. There are gaps out there that need filling, so don’t always go for the idea that everyone else has, or you might just never be noticed! We want you to go for the big and bold ideas so that you and your company can stand out and make a difference. We’ve got just a few ideas that we think will ensure your startup will never fail, whether you have a common idea or not! If you want to be let in on our secret, have a read on and find out more!

Before you even launch your business into action, there are a few things that you could be doing to ensure you get the custom you need to keep you on your feet. If you portray a bigger image of your company than you actually have, then more people are going to trust your business. Take your office location for example. If you’re just a small business in some small town, you aren’t going to attract as much custom compared to if you had a business address in a big city. If you visit websites such as, https://yourvirtualofficelondon.co.uk , you’ll see the many benefits of having a virtual office address, as well as how you can set it all up. People want to know that you’re well established and that they can trust you, not the other way round! Buying likes on social media is also a good tactic that people use. It gives a sense of trust on a community that’s so big. If your Facebook page for example was to only have 100 likes, it would show that you’re only a small business that hardly anyone knows. If you have thousands, it can instantly change the way the customer thinks about you!

A Bigger Investment

A bigger investment is always going to get you further. The less you have to borrow from the banks, the better. So if your dream of starting up a business is still a speck in the distance, then you could think about ways of getting more money now! It could be through saving your wages, trying your hand at personal investments to build a profit, or you could just figure out a money plan as it were. If you know you’re going to have to borrow from the banks, you need to make sure you’re borrowing enough in that initial investment so that you never have to go back to them. Going back to them in the early days of your startup shows weakness of the company, and you might find that they reject lending any further money. Afterall, it is a risk for the banks as well! Beware though, the more you borrow, the more interest you’re going to have to pay, and you definitely don’t want to get stuck in that trap!

A Bigger Idea

Go big or go home as they say, and you should definitely try and do this with your business idea. You want to try and make sure that you have something that’s going to send your customers wild, and something that easily sets you aside from your competitors. A big idea means a big business, so wait patiently until that idea comes to you. It might pay off to wait a while, rather than jump in with an idea that just isn’t the best!

A Bigger Plan

A bigger plan is definitely essential. You need to make sure that you have absolutely everything planned out, so that if something does go wrong, you’re instantly ready to deal with it on the spot. Plan for downfalls, plan for success, and plan for how you want your company to progress. The best plan would be one that included what you envision happening in the next 5 years, and how you can easily make it happen.

Based in London, CommonWisdom helps growing startups with their People & HR & Culture strategies and problems. For early-level startups, it provides strategic direction and mentoring to go from an idea to execution.

It is also the force behind commonwisdom.co with the motto of "increasing wisdom per capita!" This platform provides valuable content for growing startups, on career design, work culture and entrepreneurship.

To learn more about our professional services or about enquiries to have your content published, please message me directly through ozan@commonwisdom.co.uk